ROUYN-NORANDA, Canada, Oct. 15, 2024 (GLOBE NEWSWIRE) — Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) (OTCQB : ABMBF) is pleased to announce that the channel sampling of its second stripping phase is complete on the Flordin property. The stripping phase has exposed and clearly identified the three historical mineralized zones recognized over 200 metres long by 20 metres wide and which remain open laterally in both directions. Indeed, our team was able to recognize and identify the three historical mineralized zones of the former Cartwright mine, namely the zones:
Little Joe: the northernmost;
Horse: central;
Adam: the southernmost.
This recent phase of work has made it possible to send 283 channel rock samples to the MSALABS laboratory in Val-D’Or. Each of the new channels, a total of seven, as well as the extensions of channels 8 and 4 are all 0.5 metre long and are connected to each other. Each of the channels is on average 6 to 8 cm deep and they intersect perpendicularly the mineralized zones, which are oriented east-west with a sub-vertical dip.
Each of the mineralized zones is characterized by the presence of bands of pyrite, silica and hematite in a sheared basalt. They measure from a few centimetres to several metres thick and are separated from each other by approximately 5 metres. Note that the host rock between the zones is mineralized in gold.
The new phase of work will have made it possible to connect all the strippings together over a lateral distance of more than 200 metres. It should be recalled that the Company announced results of up to 22.7 g/t gold over 7 metres, including 163 g/t over 0.5 metres (see press release of August 21, 2024) during the first phase of stripping. The new work will also have made it possible to extend the length of each of the channels. During the first phase of channeling, these were on average 7 metres long, while for this phase, they are on average 18 metres long. This phase of work exposes over 200 metres of high-grade gold mineralization that could correspond to the same type as that reported by Cambior to the south of the Flordin deposit (South Zone). The mineralization described in the historical work for the South Zone is similar to that encountered in the Cartwright sector, which is located 2 km further east.
Figure 1: Overview of the Property with the Flordin Deposit, the drilling carried out in 2023 and the area of strippings 1-2 and 3, in the vicinity of the Cartwright Deposit.
Figure 2: View to the west of the stripping carried out during Phase 2
Figure 3: Samples from channel no. 12
Pascal Hamelin, President and CEO, comments: “We are eagerly awaiting the analytical results of this new phase of work undertaken on our Flordin property. We were able to complete over 140 metres of channel sampling and ship the samples to the laboratory in less than two weeks from receipt of the authorization permits. This confirms our efficiency in carrying out quality exploration work on our Flordin property and mining development at our Sleeping Giant mine in parallel.”
Qualified Persons
Robert Gagnon, Geo., the Company’s Vice President Exploration, has reviewed and approved the technical information contained in this press release.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration company with properties strategically located in northwestern Quebec, Canada. Abcourt owns the Sleeping Giant mine and mill, where it focuses its development activities.
For more information about Abcourt Mines Inc., please visit our website and view our filings under Abcourt’s profile on www.sedarplus.ca
FORWARD-LOOKING STATEMENTS
Certain information contained in this news release may constitute “forward-looking information” within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by forward-looking terminology, such as “plans”, “aims”, “expects”, “projects”, “intends”, “anticipates”, “estimates”, “could”, “should”, “likely”, or variations of these words and phrases or statements specifying that certain acts, events or results “may”, “would”, “would”, “would”, “would”, “would”, “occur” or “be achieved” or other expressions Similar. Forward-looking statements are based on Abcourt’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set out in Abcourt’s public filings, are available on SEDAR+ at www.sedarplus.ca. There can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Although Abcourt believes that the assumptions and factors used in preparing forward-looking statements are reasonable, undue reliance should not be placed on such statements. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any of these forward-looking statements or information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ed6227d8-a987-449b-b58a-b24eb535fa5e
https://www.globenewswire.com/NewsRoom/AttachmentNg/3c249057-d81a-4a7a-8036-ff5b89893ff5
https://www.globenewswire.com/NewsRoom/AttachmentNg/4714db21-35c8-4f48-a5fe-1c6e83390a45
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